Mana Continues to Gobble Prime Downtown Miami Space
By: Ismael Rodriguez
Moishe Mana continues to gobble space in an attempt to grow his vision of downtown Miami by recently adding a 6,000-square-foot vacant parcel of land on Flagler Street for $4 million, bringing his total spent in the area to more than $258.2 million.
Mana’s East Flagler Realty LLC purchased the vacant lot for $667 per square foot, which entitles him to 70,500 square feet of land in the downtown area.
“Mana is near completion on his downtown assemblage, wrapping up loose strings, readying for the next phase of development,” Mika Mattingly of Colliers International South Florida, who represented Mana in the deal, told the press. “Very soon, he will unveil his grand vision for a downtown that is strategically positioned to become the center of it all.”
Since 2010, Mana has been redeveloping a portfolio consisting of retail, office and residential projects. His 42 Flagler area properties combine 9.2 acres of land and more than 1 million square feet, according to what Mattingly also told the press.
Apart from investors like Mana leading to a resurgence of the area, the city of Miami, too, is buying into downtown Miami’s potential by investing $13 million to beautify and redevelop the infrastructure, which includes new sidewalks, trees, lighting and blacktop.